Share This Story!

Warren Buffett’s company more than quadrupled its third-quarter profits because of a huge paper gain in the value of its investments, although its insurance and railroad businesses also improved.

Post to Facebook

Sent!

A link has been sent to your friend’s email address.

Posted!

A link has been posted to your Facebook feed.

Associated Press
Published 11:06 a.m. ET Nov. 3, 2018

Warren Buffett speaking with reporters.(Photo: The Motley Fool)

OMAHA, Neb. – Warren Buffett’s company more than quadrupled its third-quarter profits because of a huge paper gain in the value of its investments, although its insurance and railroad businesses also improved.

Berkshire Hathaway Inc. said Saturday that it earned $18.54 billion, or $7.52 per Class B share. That’s up from last year’s $2.47 billion, or $1.65 per B share, when insurance losses from several hurricanes hurt results.

Buffett says Berkshire’s operating earnings offer a better view of quarterly performance because they exclude investments and derivatives, which can vary widely.

By that measure, Berkshire reported operating earnings of $6.88 billion, or about $2.79 per Class B share. That’s up from $3.44 billion, or about $1.40 per B share.

Berkshire’s revenue grew to $63.45 billion in the quarter, up from $59.5 billion last year.

MOST COMMENTED

In this Oct. 23, 2018 photo, Secretary of State Mike Pompeo speaks to reporters at a news conference at the State Department in Washington. The Trump administration is calling for a halt to the civil war in Yemen, including airstrikes by the Arab-led coalition supported by the United States. Pompeo is urging all parties to…